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Unit 2
Evolution Of Marketing Concept
I'd be happy to help you with the topic of the evolution of the marketing concept. Marketing has evolved significantly over time, and understanding its evolution can provide valuable insights into the field. Here's a brief overview of the evolution of the marketing concept:
Marketing Concept
The marketing concept is defined as the marketing philosophy by which a firm's objections can be best achieves. In other words, the marketing concept is the philosophy that states "firms should analyze the needs of their customers and then make decisions to satisfy those needs better than their competitors"
Reasons for the (Need of) Developing Marketing Concept
1. Provide a roadmap
2. Understand consumer buying decision
3. Better approach
4. Profitability
5. Organizes the idea of marketing
Various Types of Marketing Concepts
1. Production Concept
The production concept assumes that consumers will buy products when they are easily available and affordable.
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Rice, Pulses, biscuits, etc produced by Nepali business firms will be one of the suitable examples of a production concept
2. Product Concept
The product concept of marketing is based on the assumption that consumers favor those products that are high in quality, performance, and uniqueness.
Rado is the perfect example of a product concept
3. Selling Concept
As per this concept, firms should focus extensively on selling and promoting to sell their product. Hence, the objective of the organization is to sell what they make rather than what the market wants.
A banner prepared by Rum Pum Company can also be the best example of a selling concept.
4. Modern/New Marketing Concept
The modern marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfaction more effectively and efficiently than the competitors do.
5. Societal Marketing Concept
As per the societal marketing concept, the primary task of a business firm is to fulfill the needs,wants and interests of the consumer with focus also on consideration of society's well-being.
6. The Holistic Marketing Concept
The holistic marketing concept is based on the development, design, and implementation of marketing concept is based on the development, design, and implementation of the marketing concept is based on the following themes:
a. Relationship marketing
b. Internal marketing
c. Integrated marketing
d. Performance Marketing
Note
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Difference Between Selling Concept and Modern Marketing Concept
There are certain fundamental differences between selling concept and modern marketing concept.Some of the important ones are enlisted as follows:
| The Selling Concept | The Modern Marketing Concept |
|---|---|
| 1. The emphasis of selling concept is on the product | 1. The emphasis of modern marketing concept is on customers' needs ans wants. |
| 2. Company first makes the product and then figure out how to sell it. | 2. Company first determines customers' wants and then figures out how to make and deliver the product to satisfy these wants. |
| 3. Management is sales-Volume oriented. | 3. Management is customer satisfaction orinted. |
| 4. Planning is short-run orinted, in terms of today's products and market | 4. Planning is long-run Orinted in terms of new products, tommorow's markets and future growth. |
| 5. Selling concept stresses the needs of seller. | 5. Modern marketing concept stresses the wants of buyers. |
A Portrait Of The Five Marketing Concept
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marketing note class 11